HomeMy WebLinkAbout20121082.tiff ii4GREELEY/ WELD
HOUSING AUTHORITIES Num P.O. Box 130
Greeley, Colorado 80632-0130
(970) 353-7437
(970) 353-7463 Fax April 19, 2012
(800) 659-2656 TTY Relay
Jean Sickels
Certified Public Accountant
8518 S Kays Chapel Rd
Fredericksburg, IN 47120
We are providing this letter in connection with your audit of the basic financial
statements of the Housing Authority of Weld County as of December 31,2011 and for
the year then ended for the purpose of expressing an opinion as to whether the
basic financial statements present fairly, in all material respects, the
financial position, results of operations and cash flows of the Housing Authority
in conformity with U.S. generally accepted accounting principles. We confirm
that we are responsible for the fair presentation in the basic financial
statements of the financial position, results of operations and cash flows in
conformity with U.S. generally accepted accounting principles.
Certain representations in this letter are described as being limited to matters
that are material. Items are considered material, regardless of size, if they
involve an omission or misstatement of accounting information that, in the light
of surrounding circumstances, makes it probable that the judgment of a reasonable
person relying on the information would be changed or influenced by the omission
or misstatement.
We confirm, to the best of our knowledge and belief, the following
representations made to you during your audit.
1. The basic financial statements referred to above are fairly
presented in conformity with generally accepted accounting
principles.
2 . We have made available to you all:
a. Financial records and related data and all audit or relevant
monitoring reports, if any, received from funding sources.
b. Minutes of the meeting of the Board of Commissioners through
February 27,2012. For the period following February 27,2012
minutes have not yet been prepared, but we confirm that no
events requiring disclosure in the basic financial statements
have occurred from February 27, 2012 through the current date.
3. There have been no communications from regulatory agencies
concerning noncompliance with, or deficiencies in, financial
reporting practices, except as disclosed in the notes to the basic
financial statements.
4 . There are no material transactions that have not been properly
recorded in the accounting records underlying the basic financial
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Housing Authority of the City of Greeley • Weld County Housing Authority
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statements or the schedule of expenditures of federal awards.
5. We believe that the effects of any uncorrected basic financial
statement misstatements summarized in the accompanying schedule are
immaterial, both individually and in the aggregate, to the basic
financial statements taken as a whole.
6. There has been noB
a. Fraud involving management or employees who have significant
roles in internal control.
b. Fraud involving others that could have a material effect on
basic financial statements.
7. The Housing Authority has no plans or intentions that may materially
affect the carrying value or classification of assets, liabilities
or fund equity.
8. The following, if any, have been properly recorded or disclosed in
the basic financial statements:
a. Related party transactions, including revenues,
expenditures/expenses, loans, transfers, leasing arrangements,
and guarantees, and amounts receivable from or payable to
related parties.
b. Guarantees, whether written or oral, under which the Housing
Authority is contingently liable.
c. Significant estimates and material concentrations known to
management that are required to be disclosed in accordance
with the AICPA=s Statement of Position 94-6, Disclosure of
Certain Significant Risks and Uncertainties.
9. We are responsible for the Housing Authority' s compliance with laws
and regulations applicable to it; and we have identified, and
disclosed to you, all laws and regulations that have a direct and
material effect on the determination of basic financial statements
amounts.
10. There are no:
a. Violations or possible violations of budget ordinances, laws
and regulations (including those pertaining to adopting and
amending budgets) , terms of contractual agreements, tax or
debt limits, and any related debt covenants whose effects
should be considered for disclosure in the basic financial
statements or as a basis for recording a loss contingency.
b. Other liabilities or gain or loss contingencies that are
required to be accrued or disclosed by FASB Statement No. 5.
c. Reservations or designation of surplus that was not properly
authorized and approved.
11. There are no pending or threatened litigations, claims, or
unasserted claims or assessments that are required to be accrued or
disclosed in the basic financial statements in accordance with
Statement of Financial Accounting Standards No. 5, and we have not
consulted a lawyer concerning litigation, claims or assessments.
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12. The Housing Authority has satisfactory title to all owned assets,
and there are no liens or encumbrances on such assets nor has any
asset been pledged as collateral.
13. The Housing Authority has complied with all aspects of contractual
agreements that would have a material effect on the basic financial
statements in the event of noncompliance.
14 . With respect to federal award programs:
a. Management is responsible for complying, and has complied,
with the requirements of OMB Circular A-133.
b. Management has prepared the schedule of expenditures of
federal awards in accordance with OMB Circular A-133 and has
included expenditures made during the period being audited for
all awards provided by federal agencies in the form of grants,
federal cost-reimbursement contracts, loans, loan guarantees,
property (including donated surplus property) , cooperative
agreements, interest subsidies, insurance, food commodities,
direct appropriations, and other assistance.
c. Management is responsible for complying with the requirements
of laws, regulations, and the provisions of contracts and
grant agreements related to each of its federal programs.
d. Management is responsible for establishing and maintaining
effective internal control over compliance for federal
programs that provides reasonable assurance that the auditee
is managing federal awards in compliance with laws,
regulations, and the provisions of contracts or grant
agreements that could have a material effect on its federal
programs.
e. Management has identified and disclosed to the auditor the
requirements of laws, regulations and the provisions of
contracts and grant agreements that are considered to have a
direct and material effect on each federal program.
f. Management has made available all contracts and grant
agreements (including amendments, if any) and any other
correspondence that have taken place with federal agencies or
pass-through entities and are related to federal programs.
g. Management has complied, in all material respects, with the
compliance requirements in connection with federal awards
except as disclosed to the auditor.
h. Management has identified and disclosed to the auditor all
amounts questioned and any known noncompliance with the
requirements of federal awards, including the results of other
audits or program reviews.
i. Management=s interpretations of any compliance requirements
that have varying interpretations have been provided.
j . Management has made available all documentation related to the
compliance requirements, including information related to
federal program financial reports and claims for advances and
reimbursements.
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k. Federal program financial reports and claims for advances and
reimbursements are supported by the books and records from
which the basic financial statements have been prepared, and
are prepared on a basis consistent with that presented in the
schedule of expenditures of federal awards.
1. The copies of federal program financial reports provided to
the auditor are true copies of the reports submitted, or
electronically transmitted, to the federal agency or pass-
through entity, as applicable.
m. Management is responsible for and has accurately prepared the
summary schedule of prior audit findings to include all
findings required to be included by OMB Circular A-133.
n. Management has provided the auditor with all information on
the status of the follow-up on prior audit findings by federal
awarding agencies and pass-through entities, including all
management decisions.
o. Management has accurately completed the appropriate sections
of the data collection form.
p. Management is unaware of any known noncompliance occurring
subsequent to the period for which compliance is audited.
q. Management has disclosed whether any changes in internal
control over compliance or other factors that might
significantly affect internal control, including any
corrective action taken by management with regard to
reportable conditions (including material weaknesses) , have
occurred subsequent to the date as of which compliance is
audited.
r. Management has monitored sub recipients to determine that they
have expended pass-through assistance in accordance with
applicable laws and regulations and has met the requirements
of OMB Circular A-133.
s. Management has issued management decisions on a timely basis
after their receipts of sub recipients' auditor' s reports that
identified noncompliance with laws, regulations or the
provisions of contracts or grant agreements, and has ensured
that sub recipients have taken the appropriate and timely
corrective action on findings.
t. Management has considered the results of sub recipient audits
and has made any necessary adjustments to their own books and
records.
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To the best of our knowledge and belief, no events have occurred
subsequent to the balance sheet date and through the date of this letter
that would require adjustment to or disclosure in the aforementioned basic
financial statements.
Sincerely Yours,
d
4F‘'cl‘TAN/
AL OFF R•
EXECUTIVE DIRECTOR
HAIRMAN OF THE BOARD
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